Compared to the long-run absolute elasticity of demand, the short-run absolute elasticity of demand is
A. either smaller or larger, depending on other factors.
B. larger.
C. smaller.
D. the same.
Answer: C
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As a result of moving more decision making from the center toward the periphery of the organization, typically
a. the flow of information to the decision maker that is relevant to the decision should be enhanced b. the flow of information from the decision maker that is relevant to the decision should be enhanced c. the incentives to make good decisions should be strengthened d. the incentives to make good decisions should be weakened
The civilian labor force excludes anyone not actively seeking a job
a. True b. False Indicate whether the statement is true or false
In a market characterized by a single seller and many buyers, a seller's investment to reduce transaction costs can lead to which of the following situations?
a. It can reduce producer surplus in the long run. b. It can raise the price paid by customers and still make them better off. c. It can decrease the brand value of the product. d. It can lower the quality of the product in the long run.
The use of pollution charges to reduce pollution confronts the problem of
A. free riders who avoid revealing benefits from abatement. B. determining specific individual damages and appropriate charges associated with pollutants. C. necessarily lowering the price of the products. D. requiring no agency to administer the tax.